. >> i'm ryan kennedy a student at harvard business school and harvard kennedy school. you started the remarks talking bout the euincredible political influence fannie mae and freddie mac had before their conservatorship. as we think of the entities that will follow, how do we think of creating the appropriate amount of political insulation against lobbying when it comes to capital requirements or appropriately pricing in the government guarantees? >> that is a real struggle. i can tell you that during my ti time, during the conservators p conservatorship, we have had really strong restrictions on us. we were not able to make any political contributions, not just at the corporate level but i personally was not able to do it. i happened to go to law school with a couple of senators. i was not able to even visit them in a personal sense. so i was precluded from any action with any member of congress. if i was going to the hill i had to go with our regulator. before i got there when we were placed in a conservatorship initially all of the lobbying was stopped and the lobby